In Evansville, there are significant developments like fulfillment centers, job growth, and economic expansion taking place.

With the expansions of the 215 and making it a much easier drive to the West side of the valley, the new 95/215 on and off ramps, and the new development across the 215 at Revere will all help keep the NW corner of NLV a hidden gem.The "stigma" is all in name, or for people that are scared to drive up MLK until the name changes a few times!  

If both of those situations are "pre-existing" or what some people called "grandfathered", they are usually allowed to remain without any further expansion, like adding more units etc.However, if the second building or the 3rd unit were constructed without a building permit, all bets are off and an "unpermitted" unit or use may not be allowed to continue in many jurisdictions.Both the question of pre-existing and permitted uses should be asked of the city zoning department.And you may also find that insurance and lenders are not willing to work with sometimes either of these situations.We have successfully gotten variances here in PA, but the procedures are governed by state law and local ordinances. 

I am ramping up marketing, I am streamlining my processes, and am looking to expansion once I have all of my processes in place. 2015 is going to be amazing!!!

Diversifying your portfolio can reduce risk and potentially increase overall returns.Opportunity Cost-You might miss out on potential opportunities to leverage your equity and acquire more properties, especially in a market where finding cash flowing properties is challenging.Pursue a 1031 ExchangePros:Portfolio Expansion-A 1031 exchange allows you to diversify and increase your investment portfolio by acquiring multiple properties.

Build a sustainable development strategy and take your time; rapid expansion calls for thorough preparation and execution.

@Savannah KennedyIt is survival mode vs expansion mode!

No new development (outside of the hospital expansions) is buying up real estate.  

Hey BP,With all the expansion in South Philly neighborhoods like Grad Hospital and Point Breeze, what are the next hot markets south of Market?

I just finished listening to episode 52 of the BP podcast with Ken McElroy, and towards the end of the show, he discusses how his investment company was focusing mainly on expansion of their large multi-family/apartment portfolio.